M&A Deal Summary

Merion Investment Partners, Progress Equity Partners, Farragut Capital Partners and Navigator Partners Acquire Crestcom International

On November 1, 2013, mezzanine finance firm Merion Investment Partners, private equity firm Progress Equity Partners, mezzanine finance firm Farragut Capital Partners and private equity firm Navigator Partners acquired education company Crestcom International

Acquisition Highlights
  • This is Merion Investment Partners’ 1st, Progress Equity Partners’ 2nd, Farragut Capital Partners’ 1st and Navigator Partners’ 2nd transaction in the Education sector.
  • This is Merion Investment Partners’ 19th, Progress Equity Partners’ 13th, Farragut Capital Partners’ 50th and Navigator Partners’ 12th transaction in the United States.
  • This is Merion Investment Partners’ 1st, Progress Equity Partners’ 4th, Farragut Capital Partners’ 2nd and Navigator Partners’ 3rd transaction in Colorado.

M&A Deal Summary

Date 2013-11-01
Target Crestcom International
Sector Education
Buyer(s) Merion Investment Partners
Progress Equity Partners
Farragut Capital Partners
Navigator Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Signal Hill Capital Group LLC (Financial)

Target

Crestcom International

Greenwood Village, Colorado, United States
Crestcom International is a provider of management training. Crestcom provides clients with highly relevant and effective training modules that focus on the critical skills necessary for managers to succeed in any industry or geography. Crestcom International was founded in 1987 and is based in Greenwood Village, Colorado.

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Buyer(S) 4

DESCRIPTION

Merion Investment Partners is a mezzanine finance firm that provides subordinated debt to middle-market growth Companies generating at least $10 million in sales and at least $2 million in EBITDA. Merion focuses on opportunities in business services, specialty manufacturing, and healthcare services and products. Merion's invests in the range of $4 and $20 million per transaction. Merion Investment Partners was formed in 2003 and is based in King of Prussia, Pennsylvania.


DEAL STATS #
Overall 19 of 40
Sector (Education) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 9 of 19
State (Colorado) 1 of 3
Country (United States) 19 of 40
Year (2013) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-16 Energage

Exton, Pennsylvania, United States

Energage provides on-demand, online employee surveys with benchmarked results. The Energage platform combines research, neuroscience principles, and expert guidance to help you unleash performance and realize the full potential of your workforce — both at speed and scale. Energage was founded in 2006 and is based in Exton, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-19 Metasource

Draper, Utah, United States

Metasource is a provider of technology-enabled BPO services with a focus on the financial services, healthcare, and retail industries. MetaSource offers a full range of services, including document processing, customer care, and content management solutions delivered via premise-based and SaaS-based platforms designed to help customers achieve organizational efficiencies, cost savings, and other strategic benefits. Metasource was founded in 2007 and is based in Draper, Utah.

Sell -
Buyer

Progress Equity Partners

Dallas, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Progress Equity Partners is a private investment firm that seeks control positions in 'well-managed, entrepreneurial, service-based businesses.' Progress focuses on companies with sustainable/scalable business models and low capital expenditures. Specific areas of interest include building products/construction services, communication, marketing, facility maintenance services, franchising, manufacturing, retail, specialty food and healthcare services. Progress Equity Partners is based in Dallas, Texas.


DEAL STATS #
Overall 13 of 19
Sector (Education) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 6 of 7
State (Colorado) 4 of 5
Country (United States) 13 of 19
Year (2013) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-03 EnAqua Transport

Dallas, Texas, United States

EnAqua Transport LLC provides turnkey solutions for the management of saltwater and other waste which is generated as a byproduct from the development and subsequent operation of oil and gas wells. EnAqua Transport is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-17 Oncology Molecular Imaging

Woodstock, Georgia, United States

Oncology Molecular Imaging, LLC (OMI) is a provider of Positron Emission Tomography ("PET") and Computer Tomography ("CT") imaging services to small and mid-sized oncology groups. Oncology Molecular Imaging was founded in 2005 and is based in Woodstock, Georgia.

Sell -
Buyer

Farragut Capital Partners

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2011
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Farragut Capital Partners LLC is a private investment firm that provides mezzanine and equity capital to help finance buyouts, generational transfers, growth capital financings, and recapitalizations. The Firm prefers asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. Sectors of interest include light and niche manufacturing, business services, distribution & logistics, and media. Farragut's target investment size is $2 to $10 million. Farragut Capital Partners was formed in 2011 and is based in Washington, District of Columbia.


DEAL STATS #
Overall 50 of 97
Sector (Education) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 24 of 40
State (Colorado) 2 of 2
Country (United States) 50 of 97
Year (2013) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-06 Venn-Corp

McLean, Virginia, United States

Venn-Corp. is an asset-light third-party logistics provider specializing in the transportation and delivery of fixtures, furniture, and equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-25 reQuire

Virginia Beach, Virginia, United States

reQuire LLC is a provider of an online lien release tracking and reporting service for the real estate settlement services sector. reQuire is based in Virginia Beach, Virginia.

Buy -
Buyer

Navigator Partners

Summit, New Jersey, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

Navigator Partners LLC (formerly Navigator Equity Partners LLC) is a private equity firm focused on smaller middle-market company acquisitions and recapitalizations. The Firm is licensed as a SBIC and targets companies with revenues of $10 to $200 million and EBITDA of at least $2 million. Companies of interest include manufacturers and marketers of consumer and healthcare products, providers of consumer and business services, franchisors, healthcare service providers, select industrial products, and media businesses. Navigator will not invest in start-up, early-stage, or turnaround situations. Navigator Equity Partners is based in Summit, New Jersey.


DEAL STATS #
Overall 12 of 16
Sector (Education) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 3 of 4
State (Colorado) 3 of 4
Country (United States) 12 of 16
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-12 Revere Packaging

Shelbyville, Kentucky, United States

Revere Packaging is a niche provider of single-use aluminum and plastic packaging solutions to the food service industry. Revere Packaging was founded in 1801 and is based in Shelbyville, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-17 Oncology Molecular Imaging

Woodstock, Georgia, United States

Oncology Molecular Imaging, LLC (OMI) is a provider of Positron Emission Tomography ("PET") and Computer Tomography ("CT") imaging services to small and mid-sized oncology groups. Oncology Molecular Imaging was founded in 2005 and is based in Woodstock, Georgia.

Sell -